Press Releases

Full Liberalisation of Rice Trade in 2003
Friday, August 16, 2002

The Trade and Industry Department (TID) announces today (August 16) that the Government will fully liberalise the rice trade as from January 2003. Interested parties are now invited to apply for registration as rice stockholders for 2003

A TID spokesman said today: "Upon full liberalisation in 2003, the rice trade will generally operate in a free market environment. The Government will only maintain the minimum control necessary to ensure a stable supply, and to keep a reserve stock to cater for emergencies."

"There will not be any restriction on import quantity. Anyone who intends to import rice into Hong Kong may apply to be registered as importers any time as the entry requirements will be removed. The number of operators and their share of the market will be determined by market forces and traders' business decisions,"

"The liberalisation will certainly encourage competition and increase market efficiency, with more flexibility in operation for traders. Statistics on market situation will be disseminated to all registered importers to facilitate their better understanding of the market and will also be made available to all interested parties. A minimal reserve stock will continue to be maintained to meet any contingency," he added.

Traders interested in joining the rice importing business as from 1 January 2003 may now apply to be registered as a stockholder of rice with the Trade and Industry Department. For further details, please contact the Rice Control Unit of the TID at 2398 5570.

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